halogamer1989 on 27 February 2009
| mrstickball said: halo, either kind of debt is not good, and causes major issues in the country. Too much personal debt, especially among those that can't actually deal with it is causing the banks to collapse, as their debtors cannot pay back what they've borrowed (as they've borrowed too much). Too much national debt causes the govt. to owe money to foreigners, build up other economies, and pass the burdens onto the consumer by raising taxes. According to Obama's budget, the tax burden on the wealthy may go back to FDR-esque levels. I don't think that's really going to help us. |
Well at the lending level then yes they are interconnected. However, I don't think gov't should meddle in the affairs on free-market banking enterprises. They do anyway but it is just to good to let go with a nice lobbying bonus and all...
Anyway, what would you do with the budget. It is $3.6 trillion and I would like to hear your thoughts on it.
